Farmers-merchants Bank Of Illinois Mortgage Rates, Fees & Info
Joy, ILLEI: 549300UBM8OIENB7BQ09
Tax ID: 36-1297405
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Mortgage Data
Bank Data
Review & Overview
Farmers-merchants Bank Of Illinois is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Farmers-merchants Bank Of Illinois has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Davenport, Rockford, Champaign, and Galesburg among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers-merchants Bank Of Illinois has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
31Origination Dollar Volume (All Markets)
$2,595,000Employee count
35Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 14 | $1,160,000 | $82,857 | $0 | 0.00% |
| Outside of Metro Areas | 12 | $900,000 | $75,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| Galesburg, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $2,540,000 | $84,667 | $0 | 0.00% |
| USDA | 1 | $55,000 | $55,000 | $0 | 0.00% |
For 2019, Farmers-merchants Bank Of Illinois's most frequently originated type of loan was Conventional, with 30 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2019, Farmers-merchants Bank Of Illinois's most frequently cited loan purpose was Home Purchase, with 15 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 31 | $2,595,000 | $83,710 | $0 | 0.00% |
For 2019, Farmers-merchants Bank Of Illinois's most frequently cited loan duration was Other, with 31 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 19 | $1,115,000 | $58,684 | $0 | 0.00% |
| $100k-200k | 12 | $1,480,000 | $123,333 | $0 | 0.00% |
2019 saw Farmers-merchants Bank Of Illinois place emphasis on $100,000 or less loans with 19 originations, totaling $1,115,000 in origination value.
Applicant Income
Farmers-merchants Bank Of Illinois lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $50k-75k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 31 | $2,595,000 | $83,710 | $0 | 0.00% |
Farmers-merchants Bank Of Illinois lent most frequently to those with DTI ratios of Exempt%, with 31 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 28 | $2,440,000 | $87,143 | $0 | 0.00% |
| Not provided | 3 | $155,000 | $51,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications99.42%
Farmers-merchants Bank Of Illinois has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination70.97%
Farmers-merchants Bank Of Illinois has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 31 | $2,595,000 | $83,710 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 31 | $2,595,000 | $83,710 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Farmers-Merchants Bank of Illinois | 100 East Main Street Melvin, IL 60952 | Full Service B&M | $14,986 |
| Farmers-Merchants Bank of Illinois | 101 North Taft Street Paxton, IL 60957 | Full Service B&M | $71,051 |
| Farmers-Merchants Bank of Illinois | 101 W Main St. Joy, IL 61260 | Full Service B&M | $34,233 |
| Farmers-Merchants Bank of Illinois | 116 South Pine Street Piper City, IL 60959 | Full Service B&M | $5,453 |
| Farmers-Merchants Bank of Illinois | 412 Main Street New Boston, IL 61272 | Full Service B&M | $6,041 |
For 2019, Farmers-merchants Bank Of Illinois had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $7,467 |
| Net interest income | $6,026 |
| Total noninterest income | $1,410 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $313 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,097 |
| Pre-tax net operating income | $3,031 |
| Securities gains (or losses, -) | $476 |
| Income before extraordinary items | $2,968 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,968 |
| Minority interest net income | $0 |
| Net income | $2,968 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,563 |
Farmers-merchants Bank Of Illinois's gross interest income from loans was $7,467,000.
Farmers-merchants Bank Of Illinois's net interest income from loans was $6,026,000.
Farmers-merchants Bank Of Illinois's fee based income from loans was $313,000.
Farmers-merchants Bank Of Illinois's net income from loans was $2,968,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,441 |
| Provision for credit losses | $321 |
| Total noninterest expense | $4,084 |
| Salaries and employee benefits | $2,048 |
| Premises and equipment expense | $232 |
| Additional noninterest expense | $1,804 |
| Applicable income taxes | $539 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Farmers-merchants Bank Of Illinois's interest expense for loans was $1,441,000.
Farmers-merchants Bank Of Illinois's payroll and benefits expense were $2,048,000.
Farmers-merchants Bank Of Illinois's property, plant and equipment expenses $232,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 2.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 2.0% |
| Commercial & industrial loans | 4.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $163,172 |
| Deposits held in domestic offices | $163,172 |
| Deposits by Individuals, partnerships, and corporations | $141,435 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $20,512 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,225 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $56,241 |
| Demand deposits | $24,226 |
| Nontransaction accounts | $106,931 |
| Money market deposit accounts (MMDAs) | $17,798 |
| Other savings deposits (excluding MMDAs) | $19,420 |
| Total time deposits | $69,713 |
| Total time and savings deposits | $138,946 |
| Noninterest-bearing deposits | $24,226 |
| Interest-bearing deposits | $138,946 |
| Retail deposits | $144,396 |
| IRAs and Keogh plan accounts | $10,416 |
| Brokered deposits | $10,001 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $204,066 |
| Cash & Balances due from depository institutions | $6,022 |
| Interest-bearing balances | $4,394 |
| Total securities | $19,217 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $162,630 |
| Loan and leases loss allowance | $454 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,163 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $9,657 |
| All other assets | $5,377 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $204,066 |
| Total Liabilities | $172,675 |
| Total deposits | $163,172 |
| Interest-bearing deposits | $138,946 |
| Deposits held in domestic offices | $163,172 |
| % insured (estimated) | $94 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $8,349 |
| Subordinated debt | $0 |
| All other liabilities | $1,154 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $162,630 |
| Loan and leases loss allowance | $454 |
| Total loans and leases (domestic) | $163,084 |
| All real estate loans | $80,542 |
| Real estate loans in domestic offices | $80,542 |
| Construction and development loans | $59 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $59 |
| Loans secured by nonfarm nonresidential properties | $15,999 |
| Nonfarm nonresidential secured by owner-occupied properties | $4,774 |
| Commercial real estate & other non-farm, non-residential | $11,225 |
| Multifamily residential real estate | $16,159 |
| 1-4 family residential loans | $29,707 |
| Farmland loans | $18,618 |
| Loans held in foreign offices | $0 |
| Farm loans | $14,399 |
| Commercial and industrial loans | $4,167 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,671 |
| Credit card loans | $0 |
| Related Plans | $24 |
| Consumer Auto Loans | $1,651 |
| Other loans to individuals | $996 |
| All other loans & leases | $61,305 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $551 |
| Loans to depository institutions and acceptances of other banks | $60,528 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $6 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Farmers-Merchants Bank of Illinois had $162,630,000 of loans outstanding in 2019. $80,542,000 of loans were in real estate loans. $59,000 of loans were in development loans. $16,159,000 of loans were in multifamily mortgage loans. $29,707,000 of loans were in 1-4 family mortgage loans. $14,399,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,651,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 46 | $5,566 | $121,000 |
| Nonfarm, nonresidential loans - <$100k | 25 | $830 | $33,200 |
| Nonfarm, nonresidential loans - $100-250k | 11 | $1,122 | $102,000 |
| Nonfarm, nonresidential loans - $250k-1MM | 10 | $3,614 | $361,400 |
| Commercial & Industrial, US addressed loans - <$1MM | 106 | $4,167 | $39,311 |
| Commercial & Industrial, US addressed loans - <$100k | 90 | $1,175 | $13,056 |
| Commercial & Industrial, US addressed loans - $100-250k | 11 | $772 | $70,182 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 5 | $2,220 | $444,000 |
| Farmland loans - <$1MM | 73 | $7,740 | $106,027 |
| Farmland loans - <$100k | 36 | $1,334 | $37,056 |
| Farmland loans - $100-250k | 24 | $2,847 | $118,625 |
| Farmland loans - $250k-1MM | 13 | $3,559 | $273,769 |
| Agriculture operations loans - <$1MM | 174 | $9,754 | $56,057 |
| Agriculture operations loans - <$100k | 112 | $830 | $7,411 |
| Agriculture operations loans - $100-250k | 52 | $6,330 | $121,731 |
| Agriculture operations loans - $250k-1MM | 10 | $2,594 | $259,400 |